Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per common share ($ in thousands, except share and per share amounts):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Net income	$	39,447	$	21,466	$	73,630	$	29,712
Add: net loss attributable to noncontrolling interests	332		207		633		361
Net income attributable to stockholders	39,779		21,673		74,263		30,073
Less: net income attributable to unvested restricted stock awards	(19)		—		(19)		—
Net income attributable to common stockholders - basic	$	39,760	$	21,673	$	74,244	$	30,073
BASIC:
Weighted average common shares outstanding	43,388,753		45,708,238		43,388,748		45,779,433
DILUTED:
Weighted average common shares outstanding	43,388,753		45,708,238		43,388,748		45,779,433
Stock options	—		10,300		1,344		5,338
Weighted average dilutive common shares outstanding	43,388,753		45,718,538		43,390,092		45,784,771
Earnings per common share - basic	$	0.92	$	0.47	$	1.71	$	0.66
Earnings per common share - diluted	$	0.92	$	0.47	$	1.71	$	0.66
Incremental anti-dilutive shares excluded:
Net share effect of stock options with an exercise price in excess of the average market price for our common shares	903,425		503,862		776,771		488,187
Regular dividends declared per common share	$	0.90	$	0.90	$	1.80	$	1.80